Saturday, March 31, 2012

Thomas Friedman, "Why Nations Fail": Tom's Boring Book Report

Today, in his latest New York Times op-ed, "Why Nations Fail" (http://www.nytimes.com/2012/04/01/opinion/sunday/friedman-why-nations-fail.html?_r=1&hp), Thomas Friedman describes a new book he's reading entitled -- You'll never guess the name in a million years! -- "Why Nations Fail" by M.I.T. economist Daron Acemoglu and Harvard political scientist James A. Robinson. Quoting liberally from its text, Tom relays one of the book's important messages:

"'Inclusive economic institutions, are in turn supported by, and support, inclusive political institutions,' which 'distribute political power widely in a pluralistic manner and are able to achieve some amount of political centralization so as to establish law and order, the foundations of secure property rights, and an inclusive market economy.' Conversely, extractive political institutions that concentrate power in the hands of a few reinforce extractive economic institutions to hold power."

In short, beware of extractive political institutions! Yes, Tom is right: tyrannical governments do bad things (awful April Fools' cynicism).

By chance, fellow Times columnist Maureen Dowd has also written today about a book -- actually, a trilogy of "bondage-themed romanticas" (see: http://jgcaesarea.blogspot.com/2012/03/maureen-dowd-shes-fit-to-be-tied.html).

I wonder which of the two op-eds, Tom's or Maureen's, will be more popular among New York Times readers . . .

[Judging from the early response shown by Google Analytics to my two blog entry critiques, Maureen is winning hands down, with California contributing mightily to her total.]

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